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Oriole Home Improvement Company installs replacement siding, windows, and louvered glass doors for single$-$family homes and condominium complexes. The company is in the process of preparing its annual financial statements for the fiscal year ended May $31,2025.$ Jim Alcide, controller for Oriole, has gathered the following data concerning inventory.

At May $31,2025,$ the balance in Oriole's Raw Materials Inventory account was $$461,040.$ Alcide summarized the relevant inventory cost and market data at May $31,2025,$ in the schedule below.

Alcide assigned Patricia Devereaux, an intern from a local college, the task of calculating the amount that should appear on Oriole's May $31,2025,$ financial statements for inventory under the LCNRV rule as applied to each item in inventory. Devereaux expressed concern over departing from the historical cost principle.

$\backslash$table$[[$Aluminum siding,Cost,Sales Price,Net Realizable Value$],[$Cedar shake siding,$$79,100,$$$72,320,$$$63,280$